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First Algorithmic Stablecoin Tomb Finance Denies Possible Hack

Published 09/03/2021, 06:02 AM
Updated 09/03/2021, 06:30 AM
First Algorithmic Stablecoin Tomb Finance Denies Possible Hack

  • Tomb.finance denied a possible hack and exploit of its funds in series of tweets.
  • Rumors say Tomb finance had a massive exploit and lost about $8-10 million

Tomb.finance, the first algorithmic stablecoin on Fantom Opera (NASDAQ:OPRA), denied a possible hack and exploit of its funds in series of tweets.

The company retweet an announcement made by one of its spokesmen. According to the statement, there was no hack and no funds stolen. Additionally, the team said that this was not a rug.

Even more, the Tom Finance team said that they are there for the community and ready to keep building. What is more, the group admitted that there was an exploit to the gatekeeper tax. But there were constantly targeted by FUD campaigns that caused a downward spiral of panic selling.

Additionally, the firm said this was a gatekeeper exploit, but

it was already set to be disabled as part of a governance vote in the coming months.

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